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WorksheetsCredit Words (1)
Total questions: 22
Worksheet time: 15mins
What are the main three C's of Credit?
Calculation, Character, and Conditions
Capacity, Character, and Collateral
Conditons, Character, and Collateral
Creditworthiness, Collateral, and Capital
What is credit history?
Information, most often included in a report, about how people pay their bills. Usually over the past 7-10 years
A report about how people play with their money.
A report on how people like to buy shoes.
A report on how people spend their money, but do not pay their bills.
Bankruptcy Chapter 13 is usually used by:
Consumer Credit Counseling services
Businesses
Individuals
Alexander needs a type of loan that he signs with someone else able to help him if he cannot pay his debt. He needs a:
Cash loan
Co-Signed Loan
Installment Loan
Cash Advance
Morgan failed to pay back her loan. She:
Defaulted
Reached her credit limit
Has to go to a new bank now to ask for another loan
Must liquidate everything she owns
Filing bankruptcy under chapter 7 is often referred to as:
Liquidation
Reorganization for individuals through a payment plan
Reorganization for businesses through a payment plan
A fresh start
Bankruptcy Chapter 11 is mostly used by:
Individuals
Businesses
Credit Unions
What is the amount remaining on an account?
Balance Owed
APR
Due date
Garnishment
John is no longer able to pay his outstanding debts. He admits he has a problem and files for:
Bankruptcy
A cash advance
A job at a credit union
A new bank account
An estimate based on previous dealings of a persons or organizations ability to pay back their loan, etc.
Consumer Credit
Credit Rating
Credit History
Credit Report
A short-term loan from a bank or an alternative lender:
Credit Card
Charge Card
Default
Cash Advance
A business or financial institution that stores or manages money for individuals and other businesses:
Bank
Credit Union
Lien
Credit Card Company
Offers education to consumers about how to avoid debts that cannot be paid. Usually offers a plan or budget:
City Accountant
CPA
Consumer Credit Counseling Services
Credit Card Company
A three digit number that ranks your likelihood of repaying your loans:
Credit score
Credit report
Credit Card Statement
APR
What is the range for credit scores?
100-900
0-850
200-300
300-850
Debt that is incurred by a person usually for the purchase of consumer goods or services:
Tax Debt
Credit Card Debt
Consumer Debt
Payday Debt
